This is a page from the book "Queen Victoria's Dolls"
by Frances Low, published in 1894.
HERE is a link to see more watercolors of Queen Victoria's dolls.
They were 132 of the dolls that she dressed and named.
They appear to be penny woodens from the Groden valley in what is now Italy.
I think the collection of dolls is on display at the Museum of London.
I wish this book by Low would be re-released.
Wouldn't that be a delight? :-)